BMW expects higher margin and deliveries in 2023 amid electric rollout

German automaker BMW on Wednesday set out targets to slightly increase margins for its automotive segment and raise deliveries this year, as it pushes ahead with the rollout of its electric fleet.

The company said it expects an EBIT (earnings before interest and taxes) margin of between 8-10% for its automotive range in 2023, with deliveries set to rise slightly from 2022 and “selling prices remaining at a stable level.” It forecasts the used car market will normalize this year “due to the increased availability of new cars.”

Shares of BMW rose by 1.07% at 8:20 a.m. London time, following the announcement.

“A high level of flexibility,…